50 Sport announces industry leading performance related incentive scheme

50 Sport, the multi-award winning social-first creative agency in sponsorship and sport, has launched a new incentive scheme for all staff called the ‘performance share’.

The new scheme aims to reward all employees on a quarterly basis against a percentage of the agency’s profits in each quarter. This is distributed to all and enhanced for those who are over performing against their objectives.

The belief is that the design of the incentivisation and the way it is paid means that it’s a brilliant way to reward team members for the collective success of the agency. Having the incentive paid quarterly is critical to this. We are living in a cost-of-living crisis and therefore it is crucial that the whole team should benefit regularly from their hard work, not just at one point in the year.

People are of paramount importance to the agency and the ability to do this, as an independent agency, satisfies a particular agency objective of 2024 to link people and performance with a collective and enhanced individual system that rewards hard work and success. This latest addition joins other people-led initiatives such as a competitive paternity leave policy and a flexible / hybrid working approach that aims to put people first.

The world we are in is becoming more and more transparent across both agencies and clients. For 50 Sport, it’s also important to be able to tell clients and prospective clients that profits go into investing in the product and back to the people that make the work great for them.

One of the core values of the business is playing and winning as a team; this certainly aims to promote and reward that energy and commitment.

James Campbell, 50 Sport Co-Founder commented: “We feel that the days of an annual bonus scheme paid once a year is archaic. A lot can happen in one year and it might go up and down. We feel it’s important to reward on a regular and consistent basis with clear action plans and objectives against it. This aims to do exactly that. Focussing this scheme around profits also means that when the business wins, the team wins as a result and we couldn’t imagine a better way of doing something like this.”

Nick Jackman, 50 Sport Co-Founder, commented: “Our people are our greatest asset so this incentive scheme has been a long time coming in terms of how it’s developed over the years. We’re really proud of where it’s at and we believe it is unique in the industry. To be able to reward people on a quarterly basis and for everyone to feel bought into the success of the agency is really important to us as founders and owners, so we’re really happy to put it in place.”